In cybersecurity parlance, identity and access management or IAM means making sure someone is who they say they are, then figuring out who they can access. The end result is freeing everyone to securely use any technology anywhere, on any device or app. This is Okta’s mission statement $OKTAA pioneer in the IAM field, who sees the emergence of AI agents as a stepping stone to massive growth opportunities.
In the age of AI degradation, knowing that a human is on the other end of a conversation will become a critically important feature. AI agents will not receive much revenue from serving ads. With the increasing push toward “agentification,” demand for identity and access management solutions is expected to skyrocket. This all sounds good on paper, so when can we expect to see growth?
Okta shows slow and steady growth
A company’s valuation often reflects the market’s expectations of future growth. Five years ago Okta had a market cap of $42 billion and annual revenue of $1.3 billion, and their Simple Valuation Ratio (SVR) 32 reflected annual revenue growth of more than 50%. Investors expected this to continue for years, but it has since slowed. After registering a satisfactory growth of 12% in 2026, the company is expecting only 9% revenue growth for fiscal 2027 (calendar 2026) with an SVR of only five.
